Piper Sandler raised the firm’s price target on Jazz Pharmaceuticals (JAZZ) to $301 from $232 and keeps an Overweight rating on the shares. Jazz shares, in the firm’s view, have not re-rated as much as they should have in light of the broader zanidatamab opportunity, both in terms of near-term dynamics and longer-term dynamics. In that vein, Piper continues to believe that further multiple expansion from a current EV/2027 EBITDA of about eight times is warranted, even amid likely pressure on Xywav.
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